S 203
116th Congress
Senate
Taxation
Business investment and capital
Income tax credits
Railroads
BRACE Act of 2019
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 24, 2019
Read twice and referred to the Committee on Finance.
Jan 24, 2019
Introduced in Senate
Plain-English summary
Building Rail Access for Customers and the Economy Act of 2019 or the BRACE Act of 2019
This bill permanently extends the tax credit for railroad track maintenance. The extension applies to expenditures paid or incurred during tax years beginning after 2017. Assignments of miles of railroad track, including related expenditures, for tax years beginning on or after January 1, 2018, and before January 1, 2019, must be treated as effective as of the close of such taxable year if they are made pursuant to a written agreement entered into within 90 days of the enactment of this bill.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1